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Preston Martin

Chairman
Martin Associates
580 California #1600
San Francisco, CA 94104
Phone: 415-283-3218
Fax: 415-283-3344
Email: pmartin@ix.netcom.com

Preston Martin's distinguished career spans the course of several decades and includes high level government and private sector CEO positions. He is widely published and is noted as an incisive observer of economic trends and policies. The attached excerpts illustrate Mr. Martin's analyses when serving at the Fed.

Currently, Mr. Martin is Chairman of the Board of Martin Associates a San Francisco based financial services firms.

Mr. Martin was Vice Chairman of the Federal Reserve Board of Governors. In addition to Fed monetary policy responsibilities, he managed the entry of the twelve Federal Reserve Banks into the commercial services marketplace.

While serving as Chairman of the Federal Home Loan Bank Board, Mr. Martin engineered the legislation that created the criteria and implementation for the Federal Home Loan Mortgage Corporation—Freddie Mac. He helped structure Freddie Mac as a business enterprise and staffed it for its growth into a multi-billion dollar organization.

He founded Neighborhood Housing Services of America (NHSA), dedicated to affordable housing in urban and rural areas throughout the United States and, in addition, he created The Social Compact, a group that recognizes affordable housing enterprise and minority owned business financing.

He had a hand in the creation of many of the financial services "products" we take for granted. For example, Mr. Martin is credited with being one of the principal architects of the Adjustable Rate Mortgage (ARM) when he served as Savings and Loan Commissioner for California. He also led the initial conversion of mutual savings banks to public, stock-holder owned institutions.

In private enterprise Mr. Martin was the founding executive of PMI Mortgage Insurance Company and PMI Mortgage Corporation, for both of which he served as Chairman and Chief Executive Officer. From an initial capitalization base of $25 million, these companies grew in value to hundreds of millions of dollars over the ensuing two decades. Mr. Martin was CEO of Seraco Corporation, a Sears Roebuck enterprise with four subsidiaries, including Homart Development Corporation.

Through his association with Simon and Sons, Mr. Martin was instrumental in forming entities which acquired three savings banks in California and one in Hawaii as well as several real estate development firms in California and Hawaii.

In academe, he was Professor of Finance and Director of Executive Programs at the University of Southern California. He also founded graduate business schools in Italy and Pakistan. Mr. Martin received his BA and MBA from the University of Southern California and his monetary economics Ph.D. from Indiana University.

He is a frequent public speaker and is often called upon by CNN, CNBC, and other television and radio networks to help make sense of complex financial news.

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